Author: Alert team

Industry Update April 14, 2021 Source: CFPB WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued an interim final rule in support of the Centers for Disease Control and Prevention (CDC)’s eviction moratorium. The CFPB’s rule requires debt collectors to provide written notice to tenants of their rights...

Investor Update April 19, 2021 Source: HUD Updates to Single Family Handbook policies strengthen loss mitigation approaches for struggling borrowers while streamlining key requirements for servicers   WASHINGTON – The Federal Housing Administration (FHA) today announced the publication of its update to the Servicing and Loss Mitigation section of the FHA Single Family Housing...

Investor Update April 15, 2021 Source: Fannie Mae Additional Resource: Fannie Mae (RES-Post Payment Documentation Request Portal FAQs) Responding to an Expense Reimbursement Post Payment Document Request Fannie Mae’s RES-Post Payment Documentation Request Portal (“RES Portal”) provides an efficient and simple way for servicers and vendors to upload supporting documentation for reimbursed...

Investor Update April 14, 2021 Source: Freddie Mac This Guide Bulletin announces: • Updates to Servicing of Community Land Trust Mortgages • Updates to eMortgage legal referral requirements • Adjustments to the Modification Loss Amount calculation used for the modifications of a Mortgage subject to an indemnification agreement • Clarification on the scope of required...

Industry Update April 12, 2021 Source: DS News On March 9, 2021, Florida’s Supreme Court issued Amendment 10 to the Comprehensive COVID-19 Emergency Measures for Florida Trial Courts. This administrative order was issued to create a new requirement for case management in certain civil cases, including foreclosures. The new section is...

Disaster Alert April 8, 2021 Source: The Weather Channel Additional Resources: mLive (Tornado Damages Handful of Homes in Kent County) The Daily Leader (Storms Bring Damage, Power Outages Across Southwest MS) WATE ABC 6 (National Weather Service Confirms Pair of EF 2 Tornadoes Moved Through Scott County) Approximate areas reportedly sustaining structural damage: Alabama Tornado/High Winds – Thomasville (Clarke...

Disaster Alert April 8, 2021 Source: The Weather Channel Additional Resource: KCRG ABC 9 (“This Made the Derecho Look Like Child’s Play,” Cedar Rapids Mobile Home Hit by Possible Tornado) Approximate areas reportedly sustaining structural damage: Arkansas Tornadoes/High Winds – Clinton (Van Buren County, 72031) – Tyronza (Poinsett County, 72386) Iowa Tornado/High Winds – Cedar Rapids (Linn County, 52404) *Impacted...

Legislation Update April 6, 2021 Source: Associated Press Additional Resource: OR HB 2009 (Information/Full Text) PORTLAND, Ore. (AP) — A measure that would reinstate and extend Oregon’s moratorium on foreclosures until Sept. 1 during the COVID-19 pandemic on Tuesday passed the state’s House of Representatives. Unlike the bill that was passed by...

Industry Update April 5, 2021 Source: CFPB Additional Resource: CFPB (CFPB Compliance Bulletin Warns Mortgage Servicers: Unprepared is Unacceptable) WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire. Due to the COVID-19...

Disaster Alert April 4, 2021 Source: The Weather Channel Additional Resources: CNN (Florida Gov. DeSantis Declares a State of Emergency for Tampa-Area Water Waste Issue) NOTE: This has NOT yet been declared a FEMA Major Disaster. At a Glance The Manatee County pond holds wastewater from phosphate fertilizer manufacturing. The pond breached...